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Nov 24, 2012
11/12
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economy is overly harsh regulation of credit derivatives, there's a whole sort of section and credit derivatives, we need less regulation of them otherwise london is going to take over global finance and what was amazing at the time everybody agreed from this report, elliot spitzer was quoted saying how great this was, chuck schumer was one of the sponsors, in the u.k. labor running the u. k, and labor critics said this report shows even the labor is spending too much money -- there was this very widespread bipartisan kind of economic faculties of the western world that bought into this and that played a big role. this is a big difference, between now and the response to the industrial revolution, government -- people know government and don't necessarily like it. americans like government less, my own native canadians or things about the olympics, and the british choosing that as a symbol of what was good about britain. part of what happens i will refer you to another book called the submerged state by a woman called suzanne network who was a political scientist at cornell and it is
economy is overly harsh regulation of credit derivatives, there's a whole sort of section and credit derivatives, we need less regulation of them otherwise london is going to take over global finance and what was amazing at the time everybody agreed from this report, elliot spitzer was quoted saying how great this was, chuck schumer was one of the sponsors, in the u.k. labor running the u. k, and labor critics said this report shows even the labor is spending too much money -- there was this...
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Nov 25, 2012
11/12
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economy. >> i don't want to go too deep. i'm not totally persuaded as it turns out because in fact the overall savings rate, even now, is still well below what it was 30 years ago. he sat like a percent private savings and even now it was zero for a while. is it wrong for now. so there's some pain that the debt issues, the inequality leads people to go into debt to attempt to maintain a middle-class there, above all to have the house in in middle-class neighborhoods so kids can have a decent school. i think there's a story that went through debt rather than a simple mechanical advantage. >> the point that we should be aware that a lot of discussion talks about american consumers coming back. before the crisis, the savings rate in the united states with zero. we hope it won't come back. >> i was obviously not sustainable in one of my predecessors, chairman of the council said that is which is not sustainable will be sustained. >> -- is something. it will stop. [laughter] .. we'll see savings rates increase from the current 4-
economy. >> i don't want to go too deep. i'm not totally persuaded as it turns out because in fact the overall savings rate, even now, is still well below what it was 30 years ago. he sat like a percent private savings and even now it was zero for a while. is it wrong for now. so there's some pain that the debt issues, the inequality leads people to go into debt to attempt to maintain a middle-class there, above all to have the house in in middle-class neighborhoods so kids can have a...
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90
Nov 24, 2012
11/12
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the too big to fail scenario of 08 is when hank paulson said if this doesn't pass there will be no economy on monday. to you think with the romney or obama as president of another such moment occurred that the tea party types would listen to people like that and still send the economy down the drain? >> well, there is a moment that i memorialize in my book during the debt ceiling standoff that i think is real, you know, illustrative. the thinking of the more conservative flank. and it was the house leaders, you know, i'm answering your question in a general way because i can speak specifically in the future. but there were concerned. they believe that ceiling needed to be raised. they did believe that risking the full faith and credit of the netting states was a very dangerous proposition. they believe that a default would be a terrible thing for this country, and so because they could see that a lot of there fellow members did not believe that to be the case they brought in this treasury, this former treasury undersecretary named j. paul who served in the george herbert walker bush of min
the too big to fail scenario of 08 is when hank paulson said if this doesn't pass there will be no economy on monday. to you think with the romney or obama as president of another such moment occurred that the tea party types would listen to people like that and still send the economy down the drain? >> well, there is a moment that i memorialize in my book during the debt ceiling standoff that i think is real, you know, illustrative. the thinking of the more conservative flank. and it was...
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Nov 25, 2012
11/12
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is worth the sacrifice of economy but religion is not? many people to believe something like this but it seems nosy and read to make such judgments about strangers. finally, wet and frequently hears the argument that it is per se unhealthy because it is hot and uncomfortable. i remember the first time i was in barcelona and i had just been very uncomfortable with the sun. it's like a weapon and i had very fair skin and i didn't have enough covering so anyways this woman who is absolutely burned to a crisp and i was worried about the state of her skin, she made this point that the burqa is unhealthy and seem so paradoxical. [laughter] clothing that covers the body can be healthy or unhealthy, comfortable or uncomfortable depending on the fabric. people in india know and as i know when i'm in india the covering made of cotton is a very good choice in the heats because it's very comfortable, breeds easily and it keeps dust and at least some of the rays of the sun off of one's skin. it surely clear that the amount of skin displayed in typical
is worth the sacrifice of economy but religion is not? many people to believe something like this but it seems nosy and read to make such judgments about strangers. finally, wet and frequently hears the argument that it is per se unhealthy because it is hot and uncomfortable. i remember the first time i was in barcelona and i had just been very uncomfortable with the sun. it's like a weapon and i had very fair skin and i didn't have enough covering so anyways this woman who is absolutely burned...
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133
Nov 23, 2012
11/12
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one then we all agree on the state of the economy, that the technology companies in silicon valley and seattle, increasingly in new york are the kind of envy of the world and one key reason for that i think is that the internal structure of these corporations was much more pure network way it worked. much lies hierachical, the decision making in silicon valley firm is much less about the boss at top and much more empowering local employees to make decisions on their own, to innovate on their own. they're much more egalitarian the way they share the proceed. a lot of these company have extensive stock options plans where the lowest level employee participates when the company goes public and so on. all that stuff was new, when the first silicon valley, fairchild and intel founded in '60s and early '70s. they had this ethos where they were founded by a bunch engineers. they didn't have a lot of executive perks an everyone should participate in the production of the company. that practice i think is part of why the silicon valley and tech sector has been so successful. one of the cases be
one then we all agree on the state of the economy, that the technology companies in silicon valley and seattle, increasingly in new york are the kind of envy of the world and one key reason for that i think is that the internal structure of these corporations was much more pure network way it worked. much lies hierachical, the decision making in silicon valley firm is much less about the boss at top and much more empowering local employees to make decisions on their own, to innovate on their...
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Nov 22, 2012
11/12
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austrian economist, a very important one, which is because the world is so complicated, because the economy is so competent, because the city is so complicated that is trying to understand it is too hard for a small group of china's centrally located planners to ever fully be able to do. and so the way the markets work as they say look, no individual person has to understand the whole thing. the market works because every individual in the market understands just a little bit of it. you can focus on your part buying and selling, creating, sharing. in your part of the world, and over all the totality of all these agents will end up coming up with new solutions to problems, meeting people's needs and so when. so markets are a kind of pure network in that sense. where the pure progressives differ from traditional libertarians is that we don't think that markets solve every problem in society.elf there are many facets of human they experience that are not necessarily solved by mark is, in fact, markets create their own problems sometimes. they approach of bubbles and i things like that. in the
austrian economist, a very important one, which is because the world is so complicated, because the economy is so competent, because the city is so complicated that is trying to understand it is too hard for a small group of china's centrally located planners to ever fully be able to do. and so the way the markets work as they say look, no individual person has to understand the whole thing. the market works because every individual in the market understands just a little bit of it. you can...